In this essay I am going to highlight some of the key issues that Marx focused on and why he believed that capitalism was doom to failure because of these issues and that eventually at some point it would have to come to an inevitable end. Marx is a socialist and a communist who believes that the material conditions of society shape the social structures and culture by the means of production and relations of production which he also believes are flawed in themselves which I will go on to discuss. In other words, means of production and relations of production equal mode of production which is the type of society we have due to capitalism. Capitalism works in a way in which those who have ownership have the power to control the way in which our economic system works (Adam Smith, Karl Marx & John Maynard Keynes p.68). He was very critical about capitalism, although not in the way that people may think, he did not necessarily believe that …show more content…
The years of 2007-08 was the start of a world economic crisis, since the end of the Second World War in 1945 there have been seven official recessions, each of these however followed by a relatively quick recovery. Although this time seems to be different without the quick recovery all of the other crises have been followed by as all over Europe it is evidential that wages are deteriorating, unemployment and the cost of living is rapidly increasing (Wan, 2017), and the public is helpless to it. On the other hand, wealth is rapidly increasing, as I cited while reading a source I found that a report from Oxfam estimates that globally the incomes of the top 1% have increased 60% over the past two decades (Wan, 2017). The contradiction here is huge. Life for the capitalists is getting better and easier whereas the other half of the world is struggling to make a